"SPDR S&P 500 Low Volatility UCITS ETF" is an exchange-traded investment fund (ETF). It refers to the S&P 500 Low Volatility Index. This index reflects the development of 100 US American stocks with low volatility and is therefore relatively well diversified. The ETF replicates its index using full physical replication, so it contains all the securities of its reference index. The ETF's earnings (dividends) are automatically reinvested (accumulated). The fund company SPDR claims a total expense ratio (TER) of 0.35% per year. The yearly average divergence from the index performance (Tracking Difference) since 2013 was 0.02% per year. Therefore, the ETF was less expensive than the TER suggests.